Ashurst has advised Newcrest Mining Limited (‘Newcrest’) on the sale of its gold exploration assets in Cote d’Ivoire to Roxgold Inc. for $30 Million.

Roxgold paid Newcrest upfront consideration of $20 million cash on completion. Roxgold has also agreed to a deferred payment of $10 million cash contingent on first gold production from the portfolio. Completion is subject to conditions precedent, including approval from the Minister of Mines of Cted’Ivoire and the renewal of the Sgula exploration permit. The transaction is expected to complete in the June 2019 quarter.

The Ashurst team was led by partner Yann Alix (Picture), assisted by associates Caroline Durran and Claudia Cicone.